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The Guardian - UK
The Guardian - UK
Business
Richard Partington Economics correspondent

Cost of buying average home in England now unaffordable, warns ONS

a housing development
The ONS said it would take as many as 8.6 years of average annual household disposable income in England to afford an average-priced home. Photograph: richardjohnson/Shutterstock

Only the richest 10% of households can afford to buy an average-priced home in England, according to official figures that lay bare the scale of Britain’s broken housing market.

Highlighting the result of decades of house price growth that has outstripped household incomes, the Office for National Statistics said the cost of buying a home was “unaffordable” in every part of the UK except Northern Ireland.

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